If you get multiple offers

In most housing markets, a property that is priced right will likely receive more than one offer from interested buyers. If you happen to be a seller who has received multiple offers for your property, read on to explore practical options that you can take.

Accept the Best Offer

As a seller, you are under no legal obligation to call for a best and highest bid from the buyers who submitted an offer to you. You are free to accept the offer that you feel gives you the most advantageous terms. While price is certainly a major consideration, do examine the other stipulations that prospective buyers attach to their offers. If time is of the essence and you need to close as soon as possible, an offer that is a few thousand dollars less than the highest bid may work better for you if the buyer can close earlier than the other bidders.

Reject All Bids

If you are not satisfied with any of the offers, you can reject all of them outright. Once again, you do not have to give the bidders a chance to tender their best and highest offer.

Make a Counter Offer

You can respond with a counter offer to one, several or all of the bidders and accept the first one that responds with the amount and terms that are most favorable to you.

A Caveat

If you choose to go back to your bidders with a best and highest counter proposal, be aware that some serious bidders balk when they are told this by their agents. That said, if you receive several offers for your property and you want to ask for a best and highest offer from your bidders, that is entirely your decision to make.